Retirement Systems of Alabama Sells 3,402 Shares of Fiserv, Inc. (NYSE:FI)

Retirement Systems of Alabama lowered its position in shares of Fiserv, Inc. (NYSE:FI) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,068 shares of the business services provider’s stock after selling 3,402 shares during the period. Retirement Systems of Alabama’s holdings in Fiserv were worth $19,236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Fiserv during the 4th quarter valued at $26,099,000. Federated Hermes Inc. bought a new stake in Fiserv during the fourth quarter valued at about $5,487,000. J.W. Cole Advisors Inc. purchased a new position in Fiserv in the fourth quarter valued at about $213,000. CWM LLC bought a new position in Fiserv in the fourth quarter worth about $2,838,000. Finally, Sigma Planning Corp purchased a new stake in shares of Fiserv during the fourth quarter valued at about $270,000. 90.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $154.86, for a total value of $3,716,640.00. Following the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,350,427.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Gibbons sold 18,890 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,690 shares of company stock valued at $14,833,215. 0.75% of the stock is owned by company insiders.

Fiserv Stock Up 0.6 %

Shares of FI stock opened at $169.81 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. Fiserv, Inc. has a twelve month low of $109.11 and a twelve month high of $169.97. The stock has a 50 day moving average of $156.72 and a 200 day moving average of $153.16. The stock has a market cap of $99.36 billion, a P/E ratio of 31.74, a P/E/G ratio of 1.31 and a beta of 0.92.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the previous year, the company earned $1.81 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts expect that Fiserv, Inc. will post 8.73 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on FI shares. Morgan Stanley upgraded shares of Fiserv from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $154.00 to $175.00 in a research note on Monday, July 22nd. Royal Bank of Canada increased their price objective on Fiserv from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Citigroup upgraded Fiserv to a “strong-buy” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets boosted their price target on Fiserv from $168.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $173.25.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.